Where real estate meets rhythm | Developer, investor, live music enthusiast, and mountain seeker.

​ In the world of real estate development, we often talk about "pivoting"—adjusting a project’s scope or financing when the market shifts. This past week, we saw a macro-level pivot of historic proportions. On February 20, 2026, the Supreme Court delivered a landmark 6-3 decision striking down the administration's "reciprocal tariffs" that were originally imposed under the International Emergency Economic Powers Act (IEEPA). For those of us tracking construction costs and material lead times, the news was a momentary breath of fresh air—immediately followed by a new set of variables. The Court’s Decision and the Immediate Response The Supreme Court ruled that the executive branch overstepped its authority by using the IEEPA to impose the "Liberation Day" tariffs. This involves roughly $170 billion in revenue collected through February 20. While Justice Brett Kavanaugh noted in his dissent that the refund process for these billions is likely to be a ...

​ While the rest of the country is busy watching the winter games on TV, savvy investors are looking at the mountains through a different lens: yield. We are currently in the heart of ski season, a time when the "mountain home dream" hits its peak. But as a developer, I’m always looking past the fresh powder to the data. AirDNA recently released a report identifying the top 10 mountain markets for short-term rental (STR) investment. The takeaway? You don’t need a multi-million dollar chalet in Aspen to see a massive return. In fact, the most resilient markets right now are the "under-the-radar" regional getaways that offer affordable entry points and multi-season appeal. Why Mountain Markets are Winning According to AirDNA Chief Economist Jamie Lane, mountain destinations are among the most resilient segments of the STR market. The secret sauce is a combination of steady, multi-season demand and lower acquisition costs compared to famous resort hubs. These aren'...

The "Florida Fever" that defined the early 2020s is officially cooling. New data reveals that the Sunshine State’s net domestic migration has plunged a staggering 93% over the last three years . While the headlines might sound alarming for real estate developers, a closer look suggests we aren't seeing an exodus, but rather a market normalization . Florida is shifting from "breakneck growth" to a more sustainable, calculated pace. The Numbers Behind the Shift According to the latest U.S. Census data, Florida gained just 22,517 new residents via net domestic migration last year. To put that in perspective, look at the trajectory since the peak: ​  Why the Slowdown? The days of "remote work from anywhere" are hitting a wall of reality. Several key factors are tempering the inbound surge: • Return-to-Office Mandates: As major corporations pull employees back to HQ, the flexibility that fueled the 2021 move-ins has diminished. • The Insurance Cris...

​ There is something transformative about the Vermont landscape—the way the mist clings to the pines in the morning and the silence of a snow-covered valley. When we began planning our new resort project, we knew that traditional hotel "blocks" wouldn't cut it. We wanted our guests to feel immersed in the woods, not insulated from them. That search led us to MyCabin. MyCabin is a prefab builder that has perfected the art of the Scandinavian retreat. We are currently in the deep-testing phase of these units to see if they are the right fit for our Vermont expansion. Here is a look behind the scenes at why we’re excited and how we’re putting them to the test. Why MyCabin? The "MyCabin" philosophy aligns perfectly with the Vermont ethos: efficiency, sustainability, and a deep respect for the outdoors. Their flagship model, the My Milla, offers a lofted sleeping nook and massive floor-to-ceiling windows that turn the Vermont forest into living wallpaper. But for a r...

​ If you’ve been following my blog for a while, you know I’m obsessed with one thing: finding a better way to get more people into homes. We’ve been talking about the California housing crisis for decades, but the solution always seems to be stuck in the same slow, expensive mud of traditional construction. Lately, there’s a buzz in Sacramento that feels a bit like back to the future. State legislators, led by Assemblymember Buffy Wicks, are making a hard push to make 2026 the Year of the Housing Factory. But before we get too excited, let’s keep it real—we’ve heard this "revolution" story before. The Ghost of Housing Past Back in 1971, George Romney (HUD Secretary at the time) predicted that within a decade, two-thirds of all U.S. housing would be industrialized. He was standing in front of a factory-built home in Michigan that looked like "a boxcar with picture windows." Fast forward five years: the federal money ran out, the vision tanked, and the dream of the fa...

In the world of real estate development, there’s a thin line between a calculated risk and a blind gamble. Recent reports out of Cape Coral, Florida, show us exactly what happens when that line is crossed by "rookie" investors fueled by high-leverage private credit. The story in Cape Coral is a sobering one for those of us in the industry. What started as a pandemic-era gold rush has turned into a landscape of abandoned job sites, rotting work permits, and "for sale" signs face-down in the weeds. The Rise of the "Institutional" Hard-Money Loan Historically, "hard money" was the domain of local lenders who knew every street in their zip code. They were conservative, requiring 40% down and charging double-digit interest. They were a barrier to entry for the inexperienced, which—ironically—protected the market from overheating. But over the last decade, we’ve seen the rise of standardized private credit. Large investment firms began bundling short-t...